Trump, new conviction for fraud: this is how he obtained 150 million in bank interest

Trump, new conviction for fraud: this is how he obtained 150 million in bank interest

2023-09-27 06:11:00

Trump, the mug shot

Trump still in trouble, this time his adult children are involved too. Here’s what happened

There is no peace for Donald Trumpthe former US president was once again condemned. The accusation is serious and also involves his children: fraud. A judge of New York issued the sentence, the crime would have been committed continuously for about a decade from the tycoon in the building his empire real estate. The Trump Organization would for years lied to banks, to insurance companies and other players swelling massively the value of its assets – but to 3.6 billion of dollars – to conclude more advantageous deals or secure crucial financing.

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Second the prosecutor who led the prosecutionLetitia James, such misdeeds have earned Trump “substantial” financial benefits over the years, including something like 150 million dollars in the form of favorable interest rates obtained from banks on loans granted. For these facts, reports the Associated Press, Judge Arthur Engoron ordered some of Trump’s companies to have their licenses revoked, and imposed continued external monitoring of Trump Organization operations. The new conviction undermines the foundations the myth of the successful entrepreneur on which The Donald has built his entire career – first entrepreneurial, then political.

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